Which of the following might create cost-push inflation?
A. An increase in taxes
B. A decrease in government regulation
C. A decrease government spending
D. An increase in oil prices
Answer: D
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Answer the following statement(s) true (T) or false (F)
1. In a competitive equilibrium, the industry's output is produced at the lowest possible cost because each firm has the goal of minimizing its cost. 2. Higher costs, whether fixed or variable, will cause a leftward shift in the industry's short-run supply curve. 3. The number of firms in an industry is fixed in the short run. 4. A new licensing fee would cause an immediate upward shift in an industry's short-run supply curve. 5. In a long-run competitive equilibrium, both more efficient and less efficient firms earn zero economic profit.
What are the three major types of quotas?
What will be an ideal response?
How are banks and venture capital firms different?
A. Banks are financial intermediaries. B. Banks receive funds from the suppliers of capital. C. Venture capital firms expect quite a few of their investments to fail. D. Venture capital firms provide funds to businesses.
When there are economies of scale, larger and fewer firms bring cost efficiencies even as they reduce price competition.
Answer the following statement true (T) or false (F)